State of Michigan Archives: on Budget & Economy

Rick Snyder:
Create an environment that encourages job growth

Continuing the administration's laser focus on creating an environment that encourages job growth and prosperity includes supporting small businesses through creative partnerships.
Under the Pure Michigan Micro Lending Initiative, Huntington Bank has committed $5 million for a pilot program in Detroit to help small businesses grow.
Upon its successful completion, Huntington will commit $20 million more to be distributed through lines of credit to community micro lenders. Under another initiative, the
10,000 Small Businesses program, Goldman Sachs announced a $20 million partnership to help entrepreneurs in Detroit by providing access to education, financial and business support services.

Source: 2014 State of the State Address to Michigan legislature
Jan 16, 2014

Michigan has the 3rd-highest jobless rate in the country, at 8.8%, and favoring a renewal of benefits may help Land broaden her appeal with the middle of the electorate after tacking to the right on the federal health care law. She signed a conservative
pledge to oppose any funding to implement the law and later said she would have voted against a bill that ended the partial government shutdown in the fall.

The State Democratic Party Chairman said Land's stance on jobless benefits "doesn't pass the
smell test" because she opposed the deal reopening the government, while Land said Democrats were the reason the benefits were not part of a December budget deal.

Michigan's two Democratic senators, Debbie Stabenow and Carl Levin voted to move forward
on the 3-month extension legislation. While Republicans plan to seek changes so the bill's $6.4 billion cost would not add to deficits, a Land spokeswoman said Land would have supported an extension regardless of whether the cost is paid.

Source: Mining Gazette on 2014 Michigan Senate race
Jan 7, 2014

Terri Lynn Land:
Opposed deal to re-open federal government

Controversy surrounding endorsements by the antiestablishment Senate Conservatives Fund (SCF) has infuriated some conservatives; for Land, the controversy illustrates the difficult balance she must retain between the party's two wings. She had positioned
herself to the right of many Senate Republicans during the government shutdown. She signed a SCF pledge to defund the Affordable Care Act and opposed the vote to reopen the government. In other words, she opposed the very deal engineered by Senate Leader
Mitch McConnell (R-KY).

But she has also become the GOP's presumed nominee, and McConnell is hosting a fundraiser [for Land] along with 16 GOP candidates.

Land still believes voting to reopen the government was a mistake. But her campaign declined
to say McConnell made a mistake by supporting the deal. "She's not going to get involved in any disagreement there," a spokesperson said. "She's working very hard to unite factions of the party so she can win a contested election in a purple state."

Terri Lynn Land:
Federal shutdown was opportunity to address spending

Republican U.S. Senate candidate Terri Lynn Land would not have supported the federal budget compromise bill that lifted the 16-day federal government shutdown,
saying the legislation was a "missed opportunity to address Washington's spending problem."

Land said she opposed the shutdown, but the budget process in Washington is "broken."

Hoekstra rebutted the debt ceiling votes earlier in debate as a measure needed when there were two wars ongoing to keep the troops supplied. Durant took issue with that reasoning and said the logic was part of the "sickness" in Washington.

Hoekstra said he was the guy that along with others that shutdown government and led the effort to stop No Child Left Behind, when only 20 Republicans voted no. He said his opponents were distorting his record.
On cutting government, Candidate Glenn said he would like to see the IRS, Environmental Protection Agency and Department of Education eliminated for cost savings. Pete Konetchy also said he would require government to follow the constitution. "We
cannot spend any money out of the federal treasury without a specific power. So anything being spent right now on things such as health, community services or education, energy, whatever at the federal level--it's unconstitutional," Konetchy said.

Source: Petoskey News on 2012 Michigan Senate debate
Feb 20, 2012

Peter Hoekstra:
Cut agencies which are not in the constitution

Pete Konetchy said he would require government to follow the constitution, saying: "We cannot spend any money without a specific power. So anything being spent right now on things such as community services--it's unconstitutional." Randy Hekman said
government programs that provide assistance should be transformed to nonprofit and charity model to shrink Washington. "We need to turn this area back to charities, to nonprofits, to local people who know who they are giving to," Hekman said.

Source: Petoskey News on 2012 Michigan Senate debate
Feb 20, 2012

Scotty Boman:
The government is the problem: cut out welfare and warfare

Candidates were asked to share their ideas to revive and restore the American economy. Boman said the primary problem with the country's economy is found within the government.

"The government is absolutely the problem.
It's not that we don't have enough tax money, it's that we have too much spending. Cut out welfare and warfare and we could really save some money," he said.

Jack Hoogendyk:
Pay down the National Debt until it reaches zero

Since taking office in 1978 Carl Levin has only contributed to the National Debt increasing from $800 billion to almost $10 trillion. This must stop. We need to pay down the National Debt until it reaches zero.

I am opposed to deficit spending
The federal budget should be balanced every year. Carl Levin was the deciding NO vote in the Senate when the balanced budget amendment came up for a vote.

Fred Thompson:
Mandatory future spending lockdown is unsustainable

As far as the economic prosperity of the future is concerned, I think it’s a different story [than today]. I think if you look at the short term, it’s rosy. I think if you look at a 10-year projection, it’s rosy. But we are spending money we do not have.

We are on a mandatory spending lockdown that is pushing us in a direction that is unsustainable. We’re spending the money of future generations and those yet to be born. That has to do with our mandatory spending problem. We have to address that.

Source: 2007 Republican debate in Dearborn, Michigan
Oct 9, 2007

Fred Thompson:
No reason to believe we’re headed for recession

Q: What will you do to ensure economic vibrancy in this country?

A: I think there is no reason to believe that we’re headed for a recession. We’re enjoying 22 quarters of successive economic growth that started in 2001, and then further in 2003 with
the tax cuts that we put in place. We’re enjoying low inflation. We’re enjoying low unemployment. The stock market seems to be doing pretty well. I see no reason to believe we’re headed for economic downturn.

Q: The Dow and the S&P 500 are at record
highs, and yet, 2/3rds of the people surveyed said we are either in a recession or headed for one. Why the angst?

A: Well, I think there are pockets in the economy. Certainly they’re having difficulty. I think you always find that in a vibrant, dynamic
economy. I think that not enough has been done to tell the greatest story never told, and that is that we are enjoying a period of growth right now, and we should acknowledge what got us there and continue those same policies on into the future.

Source: 2007 Republican debate in Dearborn, Michigan
Oct 9, 2007

Fred Thompson:
Weak dollar damages us internationally

Q: What are the dangers of a weak dollar?

A: Dangers of a weak dollar is that it will damage us internationally. We’ve got to have a strong dollar because of the creditors that we have there.
It helps our exports to a certain extent now, and we’re enjoying that part of it. But any president of the United States has to stand behind a strong dollar. The whole world needs to know that we are good for our obligations.

Source: 2007 Republican debate in Dearborn, Michigan
Oct 9, 2007

Mitt Romney:
Giuliani increased spending by 2.8%; I held increase to 2.2%

Q: Your difference with Mayor Giuliani on tax cutting?

ROMNEY: Well, we both agree with the need to cut taxes and have fought to do so. [But] Mayor Giuliani fought to keep the commuter tax, which was a very substantial tax, an almost
$400 tax on commuters coming into New York.

GIULIANI: The difference is that under Governor Romney, spending went up in Massachusetts per capita by 8%; under me, spending went down by 7%. I brought taxes down by 17%.
Under him, taxes went up 11% per capita. I led, he lagged.

ROMNEY: It’s a nice line, but it’s baloney. Mayor, you got to check your facts. #1, I did not increase taxes in Massachusetts; I lowered taxes. #2, the
Club for Growth looked at our respective spending record. They said my spending grew 2.2% a year; yours grew 2.8% a year. But look, we’re both guys that are in favor of keeping spending down and keep taxes down. We’re not far apart on that.

Source: 2007 Republican debate in Dearborn, Michigan
Oct 9, 2007

Ron Paul:
Currency inflation counterfeits prosperity & destroys poor

Q: Is there any downside to this amazing bonanza in the hedge fund & the private equity firms?

A: Yes. I think this is not a consequence of free markets. What’s happening is there’s transfer of wealth from the poor and the middle class to the wealthy.
This comes about because of the monetary system that we have. When you inflate a currency or destroy a currency, the middle class gets wiped out, so the money gravitates to the banks and to Wall Street. See, that’s why you have more billionaires than
ever before. Today this country is in the middle of a recession for a lot of people. Poor people know about it. The middle class knows about it. Wall Street doesn’t know about it. Washington, D.C., doesn’t know about it. We’re depending on the
creation of money out of thin air, which is nothing more than debasement of the currency. It’s counterfeit. And it is a natural, predictable consequence that you’re going to have people benefit from it and other people suffer.

Q: Is there any downside to this amazing bonanza in the hedge fund and the private equity firms?

A: The market is a wonderful thing. The free market is one of our greatest assets. With the free market, the sky’s the limit.
The reality is that what we have to do is look at the fundamentals. A president can’t be a economic forecaster. What are the fundamentals? Keep taxes low. Keep regulations moderate. Keep spending under control. That’s an area where we need a lot of help.

Source: 2007 Republican debate in Dearborn, Michigan
Oct 9, 2007

Rudy Giuliani:
Romney increased spending by 8%; I cut spending by 7%

Q: Your difference with Mayor Giuliani on tax cutting?

ROMNEY: Well, we both agree with the need to cut taxes and have fought to do so. [But] Mayor Giuliani fought to keep the commuter tax, which was a very substantial tax, an almost
$400 tax on commuters coming into New York.

GIULIANI: The difference is that under Governor Romney, spending went up in Massachusetts per capita by 8%; under me, spending went down by 7%. I brought taxes down by 17%.
Under him, taxes went up 11% per capita. I led, he lagged.

ROMNEY: It’s a nice line, but it’s baloney. Mayor, you got to check your facts. #1, I did not increase taxes in Massachusetts; I lowered taxes. #2, the
Club for Growth looked at our respective spending record. They said my spending grew 2.2% a year; yours grew 2.8% a year. But look, we’re both guys that are in favor of keeping spending down and keep taxes down. We’re not far apart on that.

STABENOW: When I came in 2001, we had a surplus, now we have a deficit. The reality is hundreds of billions of dollars in tax subsidies for fuel companies - Halliburton - no bid contracts - this has to stop.

STABENOW: When I came in 2001, we had a surplus, now we have a deficit. The reality is hundreds of billions of dollars in tax subsidies for fuel companies - Halliburton - no bid contracts - this has to stop.

Source: 2006 Michigan Senate Debate in Grand Rapids
Oct 15, 2006

Mike Bouchard:
Federal tax-and-spend is out of control & costs jobs

Federal spending is out of control, and is the primary reason that the federal budget deficit has returned with a vengeance. Since 2001, federal revenues increased from about $2 trillion to around $2.3 trillion. Spending, however, has increased even
faster during this period, from $1.9 trillion to $2.7 trillion - an increase of 42%. One study said, “Growth in government stunts general economic growth. Increases in government spending or taxes lead to persistent decreases in the rate of job growth.”